Accounting for Purchase Discounts, Returns and Allowances Share on facebook Share on twitter Share on pinterest Share on linkedin Contents What are Purchase Discounts, Returns and Allowances? Purchase Discounts, Returns and Allowances are contra expense accounts with a credit balance, which are used to offset the Purchase expense account that normally carries a debit balance […]
This post is originally from Purchase Discounts, Returns and Allowances: All You Need To Know written by FinanceTuts